For aging adults, retirement often comes with the difficult decision to stay in the home they own or move to a senior care facility. While living in your own home provides freedom and privacy, there are medical and financial challenges that come with aging that makes it necessary to move.
Aging in Place
Aging in Place, or remaining in your own home, is best for someone who loves their autonomy and has made the necessary preparations. This means that they have a home that is safe and accessible, whether it was built with adaptations suited to aging-in-place, or has been updated and modified. Home modifications to make aging-in-place comfortable include bathroom grab bars, non-slip flooring, widened doorways, ramps for exterior stairs, smart home lighting and alert devices, and stairway lifts.
Seniors should carefully assess their financial capacity to afford in-home care should the need arise in their later years. It is also best if they live near their loved ones or a reliable support system that could help them whenever needed.
Downsizing is often the best option for seniors who want to cut costs or have medical problems requiring constant care.
Selling a family home could provide them with additional funds to cover their retirement and other medical expenses. Selling also presents numerous emotional and practical issues. Making the decision to liquidate what may be their biggest asset is best undertaken with the professional guidance of professional Realtor®, especially a seller’s agent – one that specializes in representing sellers.
Selling also relieves them of managing a house, which in itself can bring stress and risk of accidents.
Deciding on the Next Step
There are many options available for senior care. It is important that seniors understand their options, so they could find a place best suited for their care needs and still allow them to thrive physically and mentally.
A great resource for exploring senior living options is Caring.com.